Boris Becker is behind bars for two and a half years for violating the conditions of his insolvency as the BBC reports. This brings the dramatic fall of the former Wimbledon hero to its lowest point. Since it became known how badly the former multimillionaire had fallen into debt, everything has revolved around the crucial question: What happened to his assets? There are now new insights into this.
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Mysterious oil deals bankrupt tennis star
DailyMail reports that DerSpiegel - a German news outlet -reveals new information about the financial machinations that first drove Becker to ruin and then to jail. Apparently, there is a simple explanation for his insolvency: the tennis star speculated on a risky investment.
What is much more mysterious, however, is how Becker lost his money. Apparently, he was involved in dubious business dealings. According to media reports, he invested a large part of his multi-million fortune in Nigerian oil companies. Unfortunately, he seems to have lacked the necessary financial intuition.
100 million pounds lost
Becker and an African employee of his, who had also been involved in the deal, gambled themselves away. The consequences for the 54-year-old, when the oil companies' figures suddenly collapsed, were catastrophic.
In the failed investment, he sunk almost 100 million pounds into the sand. In addition, there was a failed attempt to put money into real estate in Dubai in 2011. Here, too, Becker had no luck. The once wealthy sports star couldn't recover financially from the bitter losses.
Shortly after the million-dollar grave, Becker announced his insolvency. He now has to sit out the result of the dubious Nigeria project in London's notorious Wandsworth Prison. The Guardianreported that Becker has transferred prisons and is now in HMP Huntercombe.
This article was translated from Oh!MyMag DE.